this thesis，we use all the listed companies’ annual Financial Report datas to analysis the overall situation and the industry Characteristics of R&D investments. We also research that the different factors such as enterprise scale、Property Rights、and industry concentration how to influence companies R&D investment. Our study overcome the existing research’ shortcoming that can’t excluding the industry attributes using cross-industry Macro data. In the study，we find that the Listed Companies’ R&D investment intensity stronger than Industrial enterprises above designated size，but much lower than the Global R&D active enterprises. The enterprises’ scale and investment intensity shows a U-shaped relationship，the income elasticity of R&D investment of Medium Enterprises is lower than the large-scale enterprises and small-business.